OCC Testifies on Challenges Faced in Combating Money Laundering

WASHINGTON — Daniel P. Stipano, Deputy Chief Counsel, Jennifer Kelly, Deputy Comptroller, Midsize and Credit Card Banks, and Lester Miller, National Bank Examiner, testified today before the Senate Government Affairs Permanent Subcommittee on Investigations on the supervisory and enforcement actions the OCC has taken against Riggs Bank, and the challenges regulatory agencies face in combating money laundering and terrorist financing in the United States.